Isn’t that something a lot of businesses are struggling with?
Here is how you can make money from your IP:
#1 Selling patent portfolio:
Doing this can also make you money. If you are looking for cash, selling your patent portfolio is one of the best options. You need to calculate the value of your patents before trying to sell it. Microsoft bought 800 patents from AOL for $1.1 billion in 2012.
Get into a partnership with a company that might be interested in the creation of the IP. You need to discuss the scope of the partnership, sub-licensing and subcontracting rights, royalty rates, etc. It is great to distribute risks and use each other’s resources when you don’t have the required arsenal on your side.
There are businesses that license their intellectual property assets in non-competing industries to retain their market advantage. Licensing agreements between competitors also spells goodness for everyone involved. The IP owner retains control and the licencor gets to use the IP by paying a royalty.
#4 Creating new products:
The most obvious solution to making your patent a cash cow is to create innovative products using them. Find out the opportunities that exist in your market & see if your patent can be used to make such products.
Licensing third-party patents to create commercial products is one way you can earn money. You can find patents that serve a different industry and apply them in your market.
In this, marginally used IP is moved to a different company. Sometimes new companies are established just to use the IP. Why? A new company might be able to use the IP effectively. It may also lead to new investments.
IP assets like trademark, patent, etc. have always commanded the respect of investors. Like any form of property, IP assets can be used as collaterals.
If you are looking for cash and are planning to sell your IP, although you still want to use it, then get into a sale-leaseback arrangement.
With all that said, you need to have a broad strategy with short and long-term goals that will give you a sense of direction. Connect with us to discuss options for monetizing or registering your intellectual property.